NEW FRONTIER ENERGY, INC. Item 1.01. Entry into a Material Definitive Agreement.
Effective
Section 5.06. Change in Shell Company Status.
Status Change. As of the quarterly report for the period ended
R.A.M.S. In
Since such date, and due to policies implemented by the current administration, the Company has struggled to obtain sufficient capital with which to exploit the R.A.M.S. technology. However, it continues these efforts, and remains engaged in its R.A.M.S.-related business activities as it seeks capital for this important business opportunity.
Upon commencement of its R.A.M.S.-related efforts, the Company ceased being a "shell company."
CareOne. Effective
At
3 Business Operations.
R.A.M.S. In
The micronized R.A.M.S. technology is able to remove from shale rock either pollutants or kerogen, the coveted precursor to crude oil, in seconds and minutes versus hours and days. It reduces levels of emissions and toxic materials many times over that of conventional processes.
In the energy industry, separating raw oil shale and kerogen, the crude oil precursor, is of particular interest. Resonance disintegration technology is considered "clean removal." It is performed before the retorting, or heating process, and retains the natural composition without activating toxic elements. This results in a purer product and greater yield of shale oil over conventional methods.
Until recently, removing oil from shale rock relied on crushing, pulverizing, and grinding milling processes using high-impact machines. In contrast, the resonance disintegration technology causes materials to be liberated from within, maintaining the integrity of the original material while protecting nearby groundwater.
Kerogen Capture. Although oil shale itself does not contain oil, it possesses the precursor to crude oil - an organic material called kerogen. The goal is to remove the kerogen. When kerogen is heated it can be converted to synthetic crude oil and other derivatives. Using this technology, the kerogen is shattered from within the shale matrix instead of being ground or crushed.
The fine particles enable the coveted separation of the oil from the mineral solids. Because only the kerogen is heated and not the solid particles, the amount of energy expended in the retorting process is drastically reduced from conventional methods. Another economic benefit.
Conventional oil shale mining requires a process called retorting. This involves heating organic shale to about 900 degrees F after which it decomposes into gas, a solid residue, and condensable oil. If this process takes place while the shale is still in the ground, it is known as "in situ" mining. This necessitates an explosive to create injectable spaces or voids, hydraulic pressure, and an injection of hot fluids. The downsides of this method are low efficiency rates of recovery, collapsing surfaces, and the potential for groundwater contamination.
Another method of processing oil shale is called, "ex situ" mining. During this method, oil shale is first extracted from the Earth by surface or through underground mining. Once above ground, the rock is crushed, and then retorted to release the shale oil. This method is able to recover up to 90% of the oil shale reserves. After the complex procedure of pulverizing the ore, the oil and organic materials are finally separated during the heating process.
When complete, the remaining solid material is 20 - 30% greater in bulk than initially. Most of the retorted shale can be disposed of in the original mine, but the remaining increased volume will need to be trucked to other disposal sites. As a result, both the environment and operating costs are negatively affected.
Cleaner, Purer, Cheaper, A New Frontier. However, using R.A.M.S. for that same mine, by separating the kerogen before the retorting process, the oil yield is much higher from the concentrated kerogen. Also, expansion of the mineral matter does not occur and it could be returned in whole to the site from where it was mined. The need for above ground disposal would be eliminated, reducing operating costs while benefitting the environment.
4
Generative pulsating resonances break down, or disintegrate, biomass materials near their natural fracture sites. Particles are reduced to submicronic or granular size, in under a second in many cases, via vortex-generated shearing forces and shock waves.
No physical contact is needed, and costs are significantly reduced compared to conventional processes. The technology will work on hundreds of materials. Each material has a unique frequency for the best results of disintegration. Currently most of those materials are destroyed by conventional pulverization methods.
CareOne. Effective
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OTC Markets Prescribed Disclosure Form. In light of the Company's having been locked out of the OTC Markets filing portal, the following sets forth information concerning the Company's change in shell status, in the form prescribed by OTC Markets:
NEW FRONTIER ENERGY, INC. (aNevada corporation) (OTC Pink: NFEI) Supplemental Information -March 24, 2023 CHANGE OF "SHELL COMPANY" STATUS Background
Rule 405 and Rule 12b-2 define a "shell company" as an issuer that has: (1) no or nominal operations; and (2) either: (i) no or nominal assets; (ii) assets consisting solely of cash and cash equivalents; or (iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.
5 Change in Shell Status
Status Change. As of the quarterly report for the period ended
Item 8.01. Other Events.
Due to the Company's having been locked out from the OTC Markets disclosure
filing portal, the Company has been unable to file necessary disclosure
documents with OTC Markets, including, without limitation, its annual report for
the year ended
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 The Company's Annual Report for the Years EndedFebruary 28, 2023 and 2022, on the form prescribed by OTC Markets Group, including the unaudited financial statements for the years then ended. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) 8
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